Dogecoin (DOGE) has made a rare golden cross on the weekly chart. Is it an entry opportunity? 🔥🔥🔥

Uncertainty in the cryptocurrency market has driven attention to the price of Dogecoin, especially the moving average crossover on the weekly chart.

The nature of this crossover determines whether it is a death cross (bearish signal) or a golden crossover.

A golden crossover usually occurs when a short-term moving average (usually the 50-day moving average) crosses above a long-term moving average (such as the 200-day moving average), and is interpreted as a sign of upward momentum and potential price increases.

The weekly golden crossover is particularly important because it reflects long-term trends and investor sentiment.

In the case of Dogecoin, the 50-week moving average is rising and is expected to cross the 200-week moving average to form a golden cross.

While people expect a golden crossover, traders need to observe the nature of the crossover for confirmation.

Dogecoin's recent trend has experienced volatility, but has found support and has steadily fallen.

Despite a 4.68% drop in the past 24 hours, Dogecoin has held around $0.144.

The last time Dogecoin had a weekly golden cross was in January 2021, and the price subsequently rose by a staggering 7,996% to a record high. Although past performance is no guarantee of the future, the prospect of a new golden cross has sparked heated discussions in the DOGE community.

The golden cross is an important signal that may mark the beginning of a new upward trend, but it should also be treated with caution and combined with multiple factors.

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